The achievement of regulatory excellence in the oil and. Nigerian senate passes petroleum industry bill nairametrics. The case for publishing petroleum contracts in nigeria. The politics and crisis of the petroleum industry bill in. The energy bill, 2017 1845 44board of the corporation.
May 25, 2017 the nigerian senate thursday passed the petroleum industry governance bill, seventeen years after it was first introduced to the national assembly. The senate on thursday passed the much anticipated petroleum industry bill pib after 17 year of consideration. Petroleum industry governance bill as passed by senate. May 25, 2017 nigerian senate passes petroleum industry governance bill the bill has gone through 5 sessions of the national assembly, beginning from the 4th assembly which was inaugurated in 1999 under.
Iba new petroleum industry bill for nigeria debbie legall. Jan 18, 2018 nigeria passes major oil reform bill after 17 year struggle. Aug 24, 2017 petroleum and other fuels reporting act 2017. While the npfp retains the nht, it governance bill pigb. The bill will replace nigerias main legislation in the oil and gas industry written in 1969 and nnpc decree of 1997. But it also reveals the guiding forces of local politics. May 26, 2017 senate passes petroleum industry bill, pib. Find, read and cite all the research you need on researchgate. The petroleum industry governance bill pigb was passed by the senate on 25 may 2017.
The petroleum industry governance bill kpmg nigeria. In a much awaited development, after about a decade of the political twists and turns, the nigerian senate has on 25 may, 2017, approved the petroleum industry governance bill sb. Nairobi, 29th december, 2017 content bill for introduction into the national assembly page theenergy bill, 2017. If the house of representatives concurs, it could be signed into law. Enacted by parliament of the united republic of tanzania. Commission to give notice to interested parties retained 11. Nigeria passes major oil reform bill after 17 year struggle. Nigerias senate passes the petroleum industry governance bill. The nigerian petroleum industry governance bill 2017.
Petroleum industry bill passes second reading in house of. The bill, which still needs to be passed by the house of representatives and assented to by the president of the frn before it becomes law, seeks to establish a framework for the creation of commerciallyoriented and profitdriven petroleum entities, to ensure. Senate passes petroleum industry governance bill the. They include a bill for an act to provide for the governance and institutional framework for the petroleum industry and to establish a fiscal framework that encourages further investment in the petroleum industry while increasing accruable revenues to. This article critically assesses the regulatory landscape for oil and gas development proposed under the 2017 nigeria gas and petroleum policies, which are together referred to as the nigeria oil and gas policy nogp 2017, to highlight its capacity to lead to the achievement of regulatory excellence in the oil and gas industry in nigeria. This is the passage of the first fragment of the comprehensive petroleum industry bill pib, which was broken into parts to. Minister of state for petroleum, that the petroleum industry bill pib will be. Pipeline has forced the country to import oil to generate electricity. The senate on thursday passed the first part of the much anticipated petroleum industry bill pib after 17 year of. The petroleum industry governance bill was passed at its third reading at the nigerian senate today may 25th, 2017. The pigb was passed by the nigerian senate in may 2017, and. Senate passes petroleum industry bill, pib vanguard news. Home business petroleum industry governance bill 2017 as passed by the senate.
In the long history of pursuing petroleum industry legislative reform in nigeria, this is the first time that a bill will be passed at the nigerian senate. The bill still has to go through the house of representatives and the president. Petroleum industry governance bill 2017 as passed by the senate may 28, 2017 1. Unlike its forerunner, the overly ambitious and much storied petroleum industry bill pib, which adopted an allencompassing approach to the reform of the operation. Exactly 17 years after the commencement of the industry reforms, the petroleum industry governance bill 2017 the bill, was passed by the nigerian senate on the 26th of may, 2017, leaving high expectation for the corresponding passage by the lower house the house of representatives and setting the stage for the muchanticipated industry. History of the nigerian petroleum industry oil was discovered in nigeria in 1956 at oloibiri in the niger delta after half a century of exploration. Why the government of nigeria should publish petroleum contracts government commitments to disclosure.
Nigeria joined the ranks of oil producers in 1958 when its first oil field came on stream producing 5,100 bpd. The national petroleum fiscal policy old wine in a new bottle. Seventeen years after the proposal of the original petroleum industry bill pib, the nigerian senate passed the petroleum industry governance bill pigb on thursday, the 25 th of may, 2017 to take care of the governance aspect of the pib. This act may be cited as the petroleum commission of guyana act. The petroleum industry bill pib, an omnibus law meant to regulate the entire sphere of the industry and repeal all current existing oil and gas legislation, had. The dramatically increased fuel bill and electricity shortages have had a substantial negative impact on the economy. The discovery was made by shellbp, at the time the sole concessionaire. May 27, 2017 nigerias senate, during its plenary session on 25 may 2017, passed the petroleum industry governance bill pigb or the bill following the recommendation of the joint committee of the national assembly on petroleum upstream, downstream and gas. The pib is an executive bill for an act to provide for the establishment of a legal, fiscal and regulatory framework for the petroleum industry in nigeria and for related matters. The petroleum industry governance bill, 2017 templars. Nigerias senate passes the petroleum industry governance and institutional framework bill report summary amidst some celebration in nigeria, the senate passed the pigb as it. Reforming nigerias petroleum industry 3 the petroleum industry bills proposed fiscal regime 6 the petroleum host communities fund phcf and its ambiguities 10 environmental implications of passing the petroleum industry bill the following analysis was written and published over the period of august 2015. The national petroleum fiscal policy old wine in a new. The bill is expected to inject life into nigerias oil sector attracting billions of dollars in new investments.
The key objectives of the bill as stated in part 1 of the pib are. Pdf this presentation is about nigerias petroleum industry governance bill of 2015. This is indeed a great development and right step in bringing sanity to the petroluem industry. Then in january has tweaked the rates by amending it to 2017 came the news that the pib had been 40% for onshore areas, 30% for shallow rechristened as the petroleum industry waters and 20% for deep water areas. Nigerian senate passes petroleum industry governance bill the bill has gone through 5 sessions of the national assembly, beginning from the 4th assembly which was inaugurated in. The bill still has to go through the house of representatives and the president to be. Decisions and orders made by the commission retained 10. Nigeria issue is not only in making laws but in implementing the law we make. June 2017 the nigerian senate passed the petroleum bodies called the upstream petroleum.
May 25, 2017 the senate on thursday passed the much anticipated petroleum industry bill pib after 17 year of consideration. The senate of the federal republic of nigeria frn, on thursday 25 may. The petroleum industry governance bill which is a chalked off part of the original petroleum industry bill pib has been in the national assembly for years without passage. Nigerian senate passes petroleum industry governance bill.
Besides, the petroleum industry governance bill pgib is just one of the five bills proposed by the national assembly after 17 years of tinkering with several drafts, which means that there is. The legislation known as the petroleum industry bill pib was broken up into sections to help to get it through. This brief makes the case for publishing nigerian petroleum contracts, recommends what should be included in these disclosures and suggests how the government can make these commitments a reality. On 25th of may 2017, the nigerian upper house of assembly the senate passed the nigerian petroleum industry governance bill pigb or.
Collective creativity for responsible and sustainable business practice. The senate on thursday passed the first part of the much anticipated petroleum industry. Communities bill, which has passed first reading in the senate, is expected to be passed into law before the end of 2017. Review all available materials and information of the past reforms the petroleum industry. The written laws miscellaneous amendments act, 2017 1 issn 0856 01001x the united republic of tanzania special bill supplement no. Nigeria passes major oil reform bill after 17 year. The petroleum industry bill pib, an omnibus law meant to regulate the entire sphere of the industry and repeal all current existing oil and gas legislation, had struggled to see the light of day despite its. An analysis of the nigerian petroleum industry bill 2012. The nigerian petroleum industry bill pib, which is currently being discussed in parliament, aims at reforming the oil industry.
Review all available materials and information of the past reforms the. Nigerias senate passes the petroleum industry governance. The pigb 2017 passed by the senate on may 25, 2017, has the following objectives create efficient and effective governing institutions with clear and separate roles for the petroleum industry. House of representatives in january 2018, as part of a package of legislative reform for the oil. The petroleum exploration, development and production bill, 2017 1573 49 application for nonexclusive exploration permit.
An act to provide for the reporting and dissemination of information relating to petroleum, other fuels and fuel. The bill is the first in a series of long awaited petroleum industry laws designed to reform the nigerian oil and gas industry. Three bills relating to the petroleum industry bill pib yesterday scaled second reading in the house of representatives. The bill is the first in a series of long awaited petroleum industry laws designed to reform the nigerian oil.
The nigerian senate thursday passed the petroleum industry governance bill, seventeen years after it was first introduced to the national assembly. The bill passed is said to be the first piece of the four component parts of the pib which, according to the chairman of the committee, senator tayo. An evaluation of the effect of the proposed fiscal terms on investment in the upstream sector. The ministry of petroleum resources for both regimes pib and npfp, the. We shall update you on the changes made to the bill and the next steps. Review all available materials and information of the past reforms the petroleum industry bill pib 2008, 2012.
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